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" In a positive indication for Florida's housing market, new listings rose year-over-year in July for both single-family houses, up 12. 1 percent, and for condo-townhouse homes, up 4. 6 percent," said 2021 Florida Realtors President, broker-owner with Only Way Real Estate Citrus in Inverness. "Our financial specialists likewise report that active listings (inventory) of single-family homes continued to increase throughout July (from its most affordable level), which eventually might be excellent news for buyers who have actually been sidelined by the shortage of homes for sale.

1 percent year-over-year, while existing condo-townhouse sales amounted to 13,481, up 21. 1 percent over July 2020. Closed sales may occur from 30- to 90-plus days after sales agreements are composed. The statewide median sales cost for single-family existing homes in July was $355,000, up 20. 3% from the previous year, according to data from Florida Realtors Research study Department in partnership with local Realtor boards/associations.

5% over the year-ago figure. The mean is the midpoint; half the houses cost more, half for less. According to Florida Realtors Chief Economist Dr., the data revealed indications that the state's housing market is heading on a constant course towards normalcy, a minimum of in some aspects. "The 2.

South Florida homes are overpriced by 20%, an eight-year high - Miami Herald

" But keep in mind, last year's spring purchasing season was successfully held off up until the summer season and fall by the pandemic, so the 2nd half of 2020 wound up being the strongest 2nd half for sales in a minimum of 15 years. It's not too surprising if sales counts over the next couple of months fail to exceed their totals from one year ago.

Coronavirus Florida: Experts highlight SWFL real estate market's resilience

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In July, single-family existing house sales paid in all money increased by 49. 9 percent year-over-year, while all-cash sales of condo-townhouse units rose by 44 percent. On Reference of the market, the report discovered that stock (active listings) stayed incredibly tight in July. Single-family existing homes continued at an extremely low 1.

8-months' supply. According to Freddie Mac, the rate of interest for a 30-year fixed-rate home loan averaged 2. 87 percent in July 2021, below the 3. 02 percent average throughout the same month a year previously. To see the full statewide real estate activity reports, click here. Like this: Like Loading ... Related.

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All info offered is considered trusted but is not ensured and should be independently validated. Characteristic subject to previous sale or rental. Each brokerage is independently owned and run.